Economics

The Rise of Turing Robots Leads to a Fall in Wages

The Rise of Turing Robots Leads to a Fall in Wages

From 1970 to 2007, the U.S. economy grew at an average rate of about 3 percent a year (2.8 percent for the period from 1970 to 2012). The distribution of labor income was stable until about 1980. Then something happened. The economy’s real growth rate remained on the same trend, but the distribution of income started…

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